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SPEAKER: Lynn Fountain

OVERVIEW:
True RBIA incorporates cascading the process through to each individual audit as well as the audit reporting process. The training program will focus on the establishment of a framework or methodology for RBIA and examine how to utilize risk-based questions within the process steps.

Why should you Attend: The Institute of Internal Auditors defines risk based internal auditing (RBIA) as a methodology that links internal auditing to an organization's overall risk management framework. RBIA allows internal audit to provide assurance to the board that risk management processes are effective in relation to risk appetite.

Many internal audit groups attempt RBIA but find aspects difficult to deploy within their organizations. This webinar will explore how executing RBIA requires a pre-established methodology that includes defining the organization's risk appetite/ risk tolerance and utilizing measurements that include financial, compliance, and operational metrics. Internal audit must be ready to put aside their checklists and standard work programs.

Areas Covered in the Session:
- Explore how to establish a risk based internal auditing (RBIA) methodology and recognize the steps involved
- Recognize the concepts of risk tolerance, risk appetite, and risk measurement
- Discover how to apply RBIA questions within each methodology phase
- Recognize how to utilize management to develop the RBIA
- Recognize which organizations are ready for RBIA

SPEAKER PROFILE:
Lynn Fountain has over 35 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.

Ms. Fountain has held two Chief Audit Executive positions for international companies. She was a member of the senior leadership team for Aquila Inc. in Kansas City, MO, until the sale of the utility in 2008. At Aquila, she was responsible for Internal Audit, Enterprise Risk Management and Sarbanes-Oxley. She was an integral member of the senior leadership team that effectively executed the sale of the utility. Upon the close of Aquila, Ms. Fountain engaged in her own consulting and training business. During this time, she worked with several organizations to establish ERM, Sarbanes-Oxley and governance frameworks. In addition, she has developed and delivered leading edge training sessions on COSO, internal audit, ERM, accounting, leadership, governance, compliance and ethics. In 2011, Ms. Fountain was the Chief Audit Executive for an international construction and engineering firm in Kansas City. In this role she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. In 2012, Ms. Fountain returned to her consulting and training business. Along with her risk management, internal controls and financial accounting consulting work, she delivers training for the American Institute of Certified Public Accountants, Institute of Internal Auditors, and multiple seminar and training groups.

Ms. Fountain is the author of two separate technical books released in 2015, The first entitled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation and released in April 2015. Her second book “Leading The Internal Audit Function” was released in October 2015 by Auerbach Publications. This book serves as the initial launch for a series of leading practice internal audit and information technology publications. Her third book entitled “Ethics and the Internal Auditor’s Dilemma” is expected to be out in the Fall 2016. In addition, Ms. Fountain is a frequent blogger on the LinkedIn platform and has also had numerous articles published in professional and technical publications. She is currently authoring a third technical book on Corporate Ethics and the Internal Auditors Challenge.

She has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).

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